WASHINGTON - Urgently moving on multiple fronts to stem the worst financial crisis in decades, the government moved Friday to protect money market mutual funds against losses and temporarily banned short-selling of company stocks. The Treasury Department asked Congress to give it sweeping power to buy up toxic debt that has unhinged Wall Street.

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President Bush authorized Treasury to tap up to $50 billion from a Depression-era fund to insure the holdings of eligible money market mutual funds.

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The dramatic action comes as Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are crafting a massive rescue plan to buy up dodgy assets held by troubled banks and other financial institutions at the heart of the nation’s financial crisis.


Congressional leaders said they expected to get the plan Friday and act on it before Congress recesses for the election.

The chairman of the Senate Banking Committee, Chris Dodd, D-Conn., warned the United States could be “days away from a complete meltdown of our financial system” and said Congress is levitra working quickly to prevent that.

Dodd told ABC’s “Good Morning America” on Friday that the nation’s credit is seizing up and people can’t get loans.

The ranking Republican on the Banking Committee, Sen. Richard Shelby, said the U.S. has “been lurching from one crisis to another” and predicted the new bailout plan would cost at least half a trillion dollars.

“We hope to move very quickly. Time is of the essence,” House Speaker Nancy Pelosi, D-Calif., said after Paulson and Bernanke briefed congressional leaders Thursday night.

Stocks on Wall Street shot up more than 400 points late Thursday on word that a plan was in the works. Fallout from the housing and credit debacles have badly bruised the economy and pushed unemployment to a five-year high.

“I don’t say any prudent money acheter cialis manager would say we’re out of the


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